Guideline Value for Mayor V.R.Ramanathan 2nd lane

Mayor V.R.Ramanathan 2nd lane guideline value

The current guideline value for Mayor V.R.Ramanathan 2nd lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This lane is located in Egmore village under the Periamet SRO, classified as Residential Class I Type - II.

How the guideline value of Mayor V.R.Ramanathan 2nd lane has changed

The guideline value for Mayor V.R.Ramanathan 2nd lane has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 1,382 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, marking a significant rise of 45%. In 2012, the value reached Rs 10,000 per sq.ft, which was a substantial increase of 400%. However, it then decreased to Rs 6,700 per sq.ft in 2017, reflecting a drop of 33%. The value further increased to Rs 10,000 per sq.ft in 2023, and finally rose to Rs 11,000 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 696%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, making the 2024 figure for Mayor V.R.Ramanathan 2nd lane above the median.

• Mayor V.R.Ramanathan 1st lane: Rs 11,000 per sq.ft (2024)
• Mayor SathyaMurthy Road: Rs 8,300 per sq.ft (2024)
• Mayor Chittibabu Street: Rs 13,400 per sq.ft (2024)
• McNicholas road: Rs 18,100 per sq.ft (2024)
• McNicholas road 1st lane: Rs 11,000 per sq.ft (2024)
• McNicholas road 2nd lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mayor V.R.Ramanathan 2nd lane

For a property of 1,000 sq.ft at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mayor V.R.Ramanathan 2nd lane?

The Mayor V.R.Ramanathan 2nd lane is covered by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Egmore

The guideline value is an essential factor in the registration process when buying or selling property in Egmore. It helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately with the appropriate authorities.

When engaging in property transactions, it is crucial to be aware of the current guideline value as it directly impacts the financial obligations involved in the sale or purchase process. Buyers and sellers should always refer to the latest revisions to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Mayor V.R.Ramanathan 2nd lane?

The current guideline value for Mayor V.R.Ramanathan 2nd lane is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 1,382 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, which is an overall increase of 696%.

What are the stamp duty and registration fees for properties in this lane?

The stamp duty for properties in Mayor V.R.Ramanathan 2nd lane is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 9,90,000.

Which Sub Registrar Office covers this area?

The Periamet Sub Registrar Office covers Mayor V.R.Ramanathan 2nd lane, located at 1103, Poonamallee High Road, Chennai-600 003.

Where can I find more information about guideline values in Egmore?

You can find more information about guideline values in Egmore by visiting the Registration Department's official website or through the provided links for other streets in Egmore.